FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 19, 2009 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks Feb 18, 2009 Feb 11, 2009 Feb 20, 2008 Feb 18, 2009 Reserve Bank credit 1,907,301 + 76,895 +1,040,281 1,897,237 Securities held outright 570,419 + 56,301 - 142,945 573,625 U.S. Treasury securities (1) 474,790 - 120 - 238,574 474,756 Bills (2) 18,423 0 - 181,937 18,423 Notes and bonds, nominal (2) 412,914 0 - 57,096 412,914 Notes and bonds, inflation-indexed (2) 39,378 0 + 941 39,378 Inflation compensation (3) 4,077 - 120 - 481 4,042 Federal agency debt securities (2) 32,558 + 727 + 32,558 33,577 Mortgage-backed securities (4) 63,071 + 55,694 + 63,071 65,292 Repurchase agreements (5) 0 0 - 43,536 0 Term auction credit 447,563 + 34,680 + 387,563 447,563 Other loans 143,230 + 24 + 143,007 140,493 Primary credit 65,992 + 1,418 + 65,772 65,144 Secondary credit 4 - 31 + 4 0 Seasonal credit 3 - 1 0 2 Primary dealer and other broker-dealer credit (6) 26,001 + 196 + 26,001 25,268 Asset-backed Commercial Paper Money Market Mutual Fund Liquidity Facility 13,875 - 1,236 + 13,875 12,722 Credit extended to American International Group, Inc. (7) 37,355 - 322 + 37,355 37,357 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility LLC (8) 250,358 - 5,795 + 250,358 248,671 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (9) 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (10) 25,883 + 20 + 25,883 25,917 Net portfolio holdings of Maiden Lane II LLC (11) 18,631 - 43 + 18,631 18,640 Net portfolio holdings of Maiden Lane III LLC (12) 27,639 + 111 + 27,639 27,674 Float -1,903 + 405 - 612 -3,205 Central bank liquidity swaps (13) 379,687 - 9,984 + 369,687 375,005 Other Federal Reserve assets (14) 45,793 + 1,176 + 4,606 42,854 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (15) 38,772 + 14 + 92 38,772 Total factors supplying reserve funds 1,959,314 + 76,909 +1,040,373 1,949,250 Note: Components may not sum to totals because of rounding. Footnotes appear on the following page. 1. Factors Affecting Reserve Balances of Depository Institutions, continued Millions of dollars Reserve Bank credit, related items, and Averages of daily figures reserve balances of depository institutions at Week ended Change from week ended Wednesday Federal Reserve Banks Feb 18, 2009 Feb 11, 2009 Feb 20, 2008 Feb 18, 2009 Currency in circulation (15) 894,231 + 4,629 + 77,171 895,101 Reverse repurchase agreements (16) 72,993 + 2,746 + 35,016 70,804 Foreign official and international accounts 72,993 + 2,746 + 35,016 70,804 Dealers 0 0 0 0 Treasury cash holdings 270 - 3 + 1 277 Deposits with F.R. Banks, other than reserve balances 252,604 - 16,512 + 241,588 228,031 U.S. Treasury, general account 31,082 - 5,424 + 27,221 20,501 U.S. Treasury, supplementary financing account 199,950 0 + 199,950 199,950 Foreign official 2,445 + 426 + 2,347 2,777 Service-related 4,474 + 42 - 2,274 4,474 Required clearing balances 4,474 + 42 - 2,274 4,474 Adjustments to compensate for float 0 0 0 0 Other 14,653 - 11,556 + 14,343 329 Other liabilities and capital (17) 50,231 + 457 + 7,759 50,374 Total factors, other than reserve balances, absorbing reserve funds 1,270,329 - 8,682 + 361,535 1,244,587 Reserve balances with Federal Reserve Banks 688,984 + 85,590 + 678,837 704,663 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements. 6. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain other broker-dealers. 7. Excludes credit extended to consolidated LLCs. 8. Refer to table 6 and the note on consolidation accompanying table 9. 9. Refer to table 7 and the note on consolidation accompanying table 9. 10. Refer to table 3 and the note on consolidation accompanying table 9. 11. Refer to table 4 and the note on consolidation accompanying table 9. 12. Refer to table 5 and the note on consolidation accompanying table 9. 13. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 14. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 15. Estimated. 16. Cash value of agreements, which are collateralized by U.S. Treasury securities. 17. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 3 through table 7 and the note on consolidation accompanying table 9. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 1A. Memorandum Items Millions of dollars Averages of daily figures Memorandum item Week ended Change from week ended Wednesday Feb 18, 2009 Feb 11, 2009 Feb 20, 2008 Feb 18, 2009 Marketable securities held in custody for foreign official and international accounts (1) 2,576,109 + 15,260 + 445,889 2,572,766 U.S. Treasury securities 1,762,341 + 19,390 + 498,278 1,761,713 Federal agency securities (2) 813,768 - 4,130 - 52,390 811,053 Securities lent to dealers 121,413 - 1,953 + 105,394 120,867 Overnight facility (3) 6,133 - 460 - 9,886 5,587 Term facility (4) 115,280 - 1,493 + 115,280 115,280 Note: Components may not sum to totals because of rounding. 1. Face value of the securities. Includes U.S. Treasury STRIPS, other zero-coupon bonds, and mortgage-backed securities at face value. 2. Includes debt and mortgage-backed securities. 3. Fully collateralized by U.S. Treasury securities. 4. Fully collateralized by U.S. Treasury securities, federal agency securities, and other highly rated debt securities. 2. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, February 18, 2009 Millions of dollars Remaining maturity Within 15 16 days to 91 days to Over 1 year Over 5 years Over 10 All days 90 days 1 year to 5 years to 10 years years Term auction credit 66,231 381,333 --- --- --- --- 447,563 Other loans (1) 89,067 13,766 303 37,357 --- --- 140,493 U.S. Treasury securities (2) Holdings 17,520 28,979 61,317 168,008 99,442 99,489 474,756 Weekly changes - 1,896 + 11,044 - 3,468 - 6,046 + 2,164 - 1,912 - 113 Federal agency debt securities (3) Holdings 740 1,548 2,567 22,500 6,222 0 33,577 Weekly changes - 250 - 100 + 710 + 1,067 0 0 + 1,427 Mortgage-backed securities (4) Holdings 0 0 0 0 0 65,292 65,292 Weekly changes 0 0 0 0 0 + 57,915 + 57,915 Commercial paper held by Commercial Paper Funding Facility LLC (5) 31,551 216,329 0 --- --- --- 247,880 Money market instruments held by LLCs funded through the Money Market Investor Funding Facility (6) 0 0 0 --- --- --- 0 Repurchase agreements (7) 0 0 --- --- --- --- 0 Central bank liquidity swaps (8) 222,441 152,564 0 0 0 0 375,005 Reverse repurchase agreements (7) 70,804 0 --- --- --- --- 70,804 Note: Components may not sum to totals because of rounding. --- Not applicable. 1. Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles. 2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Face value of commercial paper held by Commercial Paper Funding Facility LLC. 6. Face value of money market instruments held by LLCs funded through the Money Market Investor Funding Facility. 7. Cash value of agreements. 8. Dollar value of foreign currency held under these arrangements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 3. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Wednesday Account name Feb 18, 2009 Net portfolio holdings of Maiden Lane LLC (1) 25,917 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 28,820 Accrued interest payable to the Federal Reserve Bank of New York (2) 287 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 1,196 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2008. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY. 4. Information on Principal Accounts of Maiden Lane II LLC Millions of dollars Wednesday Account name Feb 18, 2009 Net portfolio holdings of Maiden Lane II LLC (1) 18,640 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 18,825 Accrued interest payable to the Federal Reserve Bank of New York (2) 65 Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. (3) 1,007 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2008. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries. 5. Information on Principal Accounts of Maiden Lane III LLC Millions of dollars Wednesday Account name Feb 18, 2009 Net portfolio holdings of Maiden Lane III LLC (1) 27,674 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 24,339 Accrued interest payable to the Federal Reserve Bank of New York (2) 93 Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. (3) 5,046 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2008. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9. Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG. 6. Information on Principal Accounts of Commercial Paper Funding Facility LLC Millions of dollars Wednesday Account name Feb 18, 2009 Commercial paper holdings, net (1) 246,350 Other investments, net 2,321 Net portfolio holdings of Commercial Paper Funding Facility LLC 248,671 Memorandum: Commercial paper holdings, face value 247,880 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 246,541 Accrued interest payable to the Federal Reserve Bank of New York (2) 123 1. Book value, which includes amortized cost and related fees. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. Note: On October 27, 2008, the Federal Reserve Bank of New York began extending loans under the authority of section 13(3) of the Federal Reserve Act to Commercial Paper Funding Facility LLC. This LLC is a limited liability company formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers and thereby foster liquidity in short-term funding markets and increase the availability of credit for businesses and households. 7. Information on Principal Accounts of LLCs Funded through the Money Market Investor Funding Facility Millions of dollars Wednesday Account name Feb 18, 2009 Money market instrument holdings, net (1) 0 Other investments, net 0 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility 0 Memorandum: Money market instrument holdings, face value 0 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Commercial paper issued by LLCs funded through the Money Market Investor Funding Facility, net of related discounts 0 1. Book value, which includes amortized cost. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9. Note: The Federal Reserve Board authorized the Federal Reserve Bank of New York to extend credit under the authority of section 13(3) of the Federal Reserve Act to a series of limited liability companies funded through the Money Market Investor Funding Facility (MMIFF). The MMIFF became operational on November 24, 2008. These limited liability companies were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and outstanding asset-backed commercial paper from eligible issuers. Such purchases are designed to foster liquidity in short-term money markets. 8. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Feb 18, 2009 Feb 11, 2009 Feb 20, 2008 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,886 - 23 + 527 Securities, repurchase agreements, term auction credit, and other loans 1,161,681 + 91,551 + 348,197 Securities held outright 573,625 + 59,229 - 139,737 U.S. Treasury securities (1) 474,756 - 113 - 238,606 Bills (2) 18,423 0 - 181,937 Notes and bonds, nominal (2) 412,914 0 - 57,096 Notes and bonds, inflation-indexed (2) 39,378 0 + 941 Inflation compensation (3) 4,042 - 113 - 514 Federal agency debt securities (2) 33,577 + 1,427 + 33,577 Mortgage-backed securities (4) 65,292 + 57,915 + 65,292 Repurchase agreements (5) 0 0 - 38,750 Term auction credit 447,563 + 34,680 + 387,563 Other loans 140,493 - 2,358 + 139,122 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 248,671 - 2,535 + 248,671 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 25,917 + 40 + 25,917 Net portfolio holdings of Maiden Lane II LLC (9) 18,640 + 10 + 18,640 Net portfolio holdings of Maiden Lane III LLC (10) 27,674 + 40 + 27,674 Items in process of collection (653) 1,478 + 847 - 1,436 Bank premises 2,187 + 2 + 53 Central bank liquidity swaps (11) 375,005 - 15,824 + 365,005 Other assets (12) 40,660 - 1,929 + 2,256 Total assets (653) 1,917,036 + 72,179 +1,035,504 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 8. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Eliminations Change since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Feb 18, 2009 Feb 11, 2009 Feb 20, 2008 Liabilities Federal Reserve notes, net of F.R. Bank holdings 858,488 + 2,487 + 77,985 Reverse repurchase agreements (13) 70,804 - 2,480 + 32,194 Deposits (6) 932,687 + 70,366 + 917,438 Depository institutions 709,130 + 109,073 + 698,807 U.S. Treasury, general account 20,501 + 235 + 15,976 U.S. Treasury, supplementary financing account 199,950 0 + 199,950 Foreign official 2,777 + 49 + 2,676 Other (6) 329 - 38,990 + 30 Deferred availability cash items (647) 4,683 + 1,510 + 503 Other liabilities and accrued dividends (14) 8,680 - 15 + 4,212 Total liabilities (653) 1,875,343 + 71,869 +1,032,333 Capital accounts Capital paid in 22,102 + 393 + 2,749 Surplus 19,506 - 33 + 1,049 Other capital accounts 86 - 48 - 627 Total capital 41,694 + 312 + 3,172 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 6 and the note on consolidation accompanying table 9. 7. Refer to table 7 and the note on consolidation accompanying table 9. 8. Refer to table 3 and the note on consolidation accompanying table 9. 9. Refer to table 4 and the note on consolidation accompanying table 9. 10. Refer to table 5 and the note on consolidation accompanying table 9. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities. 14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 3 through table 7 and the note on consolidation accompanying table 9. 9. Statement of Condition of Each Federal Reserve Bank, February 18, 2009 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,037 424 3,935 453 423 891 1,221 913 344 199 349 636 1,249 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,886 61 84 156 156 262 239 215 49 60 129 193 283 Securities, repurchase agreements, term auction credit, and other loans 1,161,681 57,390 545,978 65,474 32,297 116,768 72,864 58,489 24,927 16,840 23,813 31,484 115,358 Securities held outright 573,625 24,060 204,092 25,045 21,752 52,015 57,075 50,628 19,822 10,829 21,062 23,795 63,449 U.S. Treasury securities (1) 474,756 19,913 168,915 20,729 18,003 43,050 47,237 41,902 16,406 8,963 17,432 19,693 52,513 Bills (2) 18,423 773 6,555 804 699 1,671 1,833 1,626 637 348 676 764 2,038 Notes and bonds (3) 456,333 19,140 162,361 19,924 17,304 41,380 45,404 40,276 15,769 8,615 16,756 18,929 50,475 Federal agency debt securities (2) 33,577 1,408 11,946 1,466 1,273 3,045 3,341 2,963 1,160 634 1,233 1,393 3,714 Mortgage-backed securities (4) 65,292 2,739 23,231 2,851 2,476 5,921 6,496 5,763 2,256 1,233 2,397 2,708 7,222 Repurchase agreements (5) 0 0 0 0 0 0 0 0 0 0 0 0 0 Term auction credit 447,563 20,317 220,759 40,315 10,546 64,159 15,539 5,999 4,759 5,699 2,712 6,600 50,160 Other loans 140,493 13,013 121,126 114 0 593 251 1,862 346 312 39 1,089 1,749 Net portfolio holdings of Commercial Paper Funding Facility LLC (6) 248,671 0 248,671 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of LLCs funded through the Money Market Investor Funding Facility (7) 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (8) 25,917 0 25,917 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane II LLC (9) 18,640 0 18,640 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Maiden Lane III LLC (10) 27,674 0 27,674 0 0 0 0 0 0 0 0 0 0 Items in process of collection 2,131 105 0 366 303 61 436 269 34 103 58 148 248 Bank premises 2,187 123 211 65 147 231 224 207 133 112 273 250 212 Central bank liquidity swaps (11) 375,005 14,552 108,382 39,904 26,753 103,077 27,780 12,125 3,614 5,591 3,584 4,671 24,972 Other assets (12) 40,660 1,704 12,428 3,341 2,390 8,345 3,445 2,195 825 694 849 1,011 3,436 Interdistrict settlement account 0 - 11,516 - 24,339 - 54,641 + 25,293 - 47,547 + 29,684 + 26,642 + 5,184 - 4,756 + 16,679 + 17,447 + 21,869 Total assets 1,917,689 62,957 968,454 55,199 87,864 182,235 136,059 101,268 35,181 18,872 45,801 55,937 167,862 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. Statement of Condition of Each Federal Reserve Bank, February 18, 2009 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Liabilities Federal Reserve notes outstanding 1,034,252 37,794 361,349 41,119 46,083 80,435 133,680 84,357 29,115 17,455 29,624 61,612 111,631 Less: Notes held by F.R. Banks 175,764 5,720 47,607 5,436 7,355 12,151 28,560 13,735 3,439 3,143 3,750 18,125 26,742 Federal Reserve notes, net 858,488 32,074 313,742 35,683 38,728 68,284 105,120 70,622 25,676 14,312 25,873 43,486 84,889 Reverse repurchase agreements (13) 70,804 2,970 25,192 3,091 2,685 6,420 7,045 6,249 2,447 1,337 2,600 2,937 7,832 Deposits 932,694 25,817 612,661 10,799 42,461 95,052 19,802 22,096 6,370 1,900 16,530 8,411 70,794 Depository institutions 709,130 25,804 389,258 10,794 42,457 94,945 19,799 22,088 6,356 1,899 16,528 8,411 70,790 U.S. Treasury, general account 20,501 0 20,501 0 0 0 0 0 0 0 0 0 0 U.S. Treasury, supplementary financing account 199,950 0 199,950 0 0 0 0 0 0 0 0 0 0 Foreign official 2,777 2 2,748 4 3 11 3 1 0 1 0 1 3 Other 335 11 204 0 1 96 0 7 14 0 1 0 2 Deferred availability cash items 5,330 173 0 877 719 322 504 549 100 407 248 385 1,043 Other liabilities and accrued dividends (14) 8,680 153 6,252 178 179 435 344 288 153 107 120 167 305 Total liabilities 1,875,996 61,186 957,847 50,628 84,771 170,513 132,816 99,804 34,746 18,063 45,372 55,387 164,863 Capital Capital paid in 22,102 903 6,202 2,320 1,594 5,980 1,644 730 216 485 214 275 1,539 Surplus 19,506 844 4,404 2,251 1,499 5,742 1,599 704 210 324 208 271 1,449 Other capital 86 23 0 0 0 0 0 30 10 0 7 4 11 Total liabilities and capital 1,917,689 62,957 968,454 55,199 87,864 182,235 136,059 101,268 35,181 18,872 45,801 55,937 167,862 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 9. Statement of Condition of Each Federal Reserve Bank, February 18, 2009 (continued) 1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A. 2. Face value of the securities. 3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages. 5. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 6. Refer to table 6 and the note on consolidation below. 7. Refer to table 7 and the note on consolidation below. 8. Refer to table 3 and the note on consolidation below. 9. Refer to table 4 and the note on consolidation below. 10. Refer to table 5 and the note on consolidation below. 11. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 12. Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities. 14. Includes the liabilities of Commercial Paper Funding Facility LLC, the LLCs funded through the Money Market Investor Funding Facility, Maiden Lane LLC, Maiden Lane II LLC, and Maiden Lane III LLCto entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 3 through table 7 and the note on consolidation below. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On October 27, 2008, the FRBNY began extending loans to Commercial Paper Funding Facility LLC, which was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible issuers. On October 21, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to a series of LLCs funded through the Money Market Investor Funding Facility. These LLCs, which became operational on November 24, 2008, were established to purchase short-term U.S. dollar-denominated certificates of deposit, bank notes, and commercial paper from eligible issuers. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. The FRBNY is the sole beneficiary of Commercial Paper Funding Facility LLC and the primary beneficiary of the other LLCs cited above. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8). 10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Feb 18, 2009 Federal Reserve notes outstanding 1,034,252 Less: Notes held by F.R. Banks not subject to collateralization 175,764 Federal Reserve notes to be collateralized 858,488 Collateral held against Federal Reserve notes 858,488 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1) 508,813 Other assets pledged 336,439 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1) 573,625 Less: Face value of securities under reverse repurchase agreements 64,812 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 508,813 Note: Components may not sum to totals because of rounding. 1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.